Occupancy gains continued in Downtown this quarter

The downtown submarket absorbed just over 12,000 square feet of space and although modest, this marks the seventh consecutive quarter with positive results.

Key Takeaways

Occupancy gains continued in Downtown this quarter as the submarket absorbed just over 12,000 square feet of space. Although modest, this marks seven consecutive quarters with positive results.
Overall vacancy is down 80 basis points (0.8%) year-over-year in Downtown. Class A vacancy is down 160 basis points (1.6%) during the same time which is the largest drop of any other submarket in Atlanta.
The gap between quoted Class A and Class B average rents tightened significantly this quarter as the latter experienced a 20% increase from last quarter. The older Class B product is seeing more demand due to its character and ability to retrofit easier for certain types of tenants.
Sales activity in Downtown picked up greatly this quarter. Investors are finding opportunities in the submarket and have a favorable outlook of future leasing demand here.

Occupancy gains continued in Downtown this quarter

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